NEAR Price Prediction: Bullish Pattern Setup Bolsters Near Protocol Coin Price for 40% Rally
NEAR Price Prediction: The long-coming downtrend in Near protocol price has started turning sideways indicating the exhausted bearish momentum. The resulting consolidation revealed the formation of a famous chart pattern called a symmetrical triangle. Here’s how this pattern can act as a medium for trend reversal and offer entry opportunities to interested traders.
Key Points:
- The Near protocol coin may witness a sideways trend until the triangle pattern is intact.
- A potential bullish breakout from the pattern’s resistance trendline may surge the NEAR price to $2.7, followed by the $3.4 mark.
- The intraday trading volume in the NEAR price is $172.5 Million, indicating a 67% gain.
Source- Tradingview
Over the last five months, the Near protocol price resonating between the two converging trend lines reflects a symmetrical triangle pattern formation. The coin price bounced off at least thrice from both the trendline indicating the traders are respecting the pattern setup and could do the same for its potential target.
As of now, the NEAR price trades at the $2.15 mark with an intraday gain of 4.9%. A recent reversal from the pattern’s support trendline has set the prices for a bull cycle within the triangle structure. This bullish reversal may surge the coin’s market value by 13% in the near future to reach the overhead trendline.
Anyhow, a breakout from either of the aforementioned trendlines is needed to get a clear indication of the future trend.
A potential bullish breakout from the overhead trendline will increase the market buying pressure and surge the prices 40% higher to reach the five-month high of $3.4.
On a contrary note, a daily candle closing below the support trend will hint at the resumption of the prior downtrend.
Technical Indicator
Relative Strength Indicator: An evident growth in the daily RSI slope reflects underlying bullish momentum in rising and the traders have a better chance to breach the overhead trendline.
EMAs: the rising NEAR coin price reclaimed the 20-50-and-100-day EMA slope hints at early signs of a trend reversal.
Near Protocol Coin Intraday Price Levels
- Spot price: $2.16
- Trend: Bullish
- Volatility: Medium
- Resistance level- $2.22 and $2.73
- Support level- $1.8 and $1.4
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
